Nissan will buy a controlling stake in Mitsubishi

May 12, 2016, Nissan announced its intention to buy a controlling stake of 34% of the shares of Mitsubishi Motors. The agreement between the automakers have already achieved, and the signing of the relevant agreement is scheduled for May 25th. Nissan will have to pay 237 billion yen (about 2.17 billion dollars), after which the company will receive 506.6 million securities Mitsubishi. Such a deal automakers called “strategic alliance”, which will expand an existing partnership, which began five years ago. The companies plan to launch a joint operation aimed at creating a new car platforms and technologies, the expansion of the dealer network and entering new markets. Nissan Dayz Roox Recall that in April 19, 2016 Mitsubishi admitted to providing false data on fuel consumption of some of its models. It is a small-Mitsubishi eK Wagon and ek Space, as well as kei cars Nissan Dayz and Dayz Roox. After such a statement, the Japanese authorities conducted their own investigation and found numerous violations. It turned out that Mitsubishi underestimated the fuel consumption information as much as in 1991. The scandal immediately affected the well-being of the Japanese company, whose shares tumbled 43.4%. Perhaps, Mitsubishi’s management expects that the sale of a controlling stake in Nissan will help the company get out of such adversity.